Sri Lanka economic growth at 7.6-pct in 1Q 2014

June 16, 2014 (LBO) – Sri Lanka’s economy grew 7.

6 percent in the first quarter of 2014 from a year earlier despite the agriculture shrinking, estimates by the state statistics office showed. Agriculture, Livestock and forestry shrank 1.2 percent but helped by a 13.3 percent from fishing, the sector showed a 0.2 percent growth.

Industry grew 12.6 percent, helped by a 16.5 percent growth in textile, wearing apparel and leather.

Construction was estimated to have grown 22.5 percent. Electricity shrank 1.3 percent. Services grew 6.5 percent with export trade up 16.

3 percent, hotels and construction grew 23.3 percent, transport and communications up 7.

3 percent. Banking and insurance grew 5.1 percent and government services 0.9 percent.